- Write by:
-
Tuesday, May 26, 2020 - 7:36:26 PM
-
720 Visit
-
Print
Mining News Pro - Russia’s central bank said on Monday it was seeking to reverse a $1.45 billion deal between Lukoil and Otkritie Holding as part of efforts to recover some state money spent on a bailout of Otkritie bank.
The central bank spent several trillion roubles in 2017 rescuing three private banking groups, including Otkritie bank. Earlier in 2017 Lukoil, Russia’s second-biggest oil company, sold its Arkhangelskgeoldobycha diamond mining business to Otkritie bank’s parent, Otkritie Holding, for $1.45 billion.
In 2017 Lukoil sold its Arkhangelskgeoldobycha diamond mining business to Otkritie bank’s parent for $1.45 billion
Lukoil and Otkritie Holding did not immediately respond to a Reuters request for comment.
The central bank said the deal was co-financed by Otkritie bank and that Otkritie Holding, which was not part of the bailout, does not service the debt.
The central bank said contesting the deal would allow the state to reduce the funds spent on the Otkritie bank bailout.
Russia’s federal anti-monopoly regulator on Monday said that a lawsuit contesting the diamond deal had been filed in a regional court in Arkhangelsk in the north of Russia.
Short Link:
https://www.miningnews.ir/En/News/535376
A Russian arbitration court ruled on Monday that four units of Swiss commodities trader Glencore will pay more than 11.4 ...
Irish explorer Karelian Diamond Resources (AIM: KDR) said on Tuesday its search for precious stones in Finland has taken ...
An unusually warm winter in Canada this year has delayed the opening of a 400-kilometer (250-mile) ice road that is ...
Russia will regularly buy diamonds from sanctions-hit producer Alrosa through a state fund, the finance ministry said on ...
Antwerp’s diamond dealers face long and costly delays following an EU ban on Russian-origin diamonds that took effect on ...
Debswana Diamond Company’s sales of rough diamonds fell 25.1% in 2023, data released by Botswana’s central bank late on ...
Russia’s sanctions-hit diamond producer Alrosa on Wednesday reported 2023 net profit of 85.18 billion roubles ($925 ...
The World Federation of Diamond Bourses (WFDB) issued an open letter on Wednesday calling on the G7 nations and the ...
Christo Wiese, South Africa’s billionaire retail king, is going back to the future.
No comments have been posted yet ...